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Study Reports Important Economic Benefits from Energy Tax Credits SALEM- The Oregon Department of Energy has released a report that showed Business and Residential Energy Tax Credit (BETC and RETC) programs delivered a nearly 3-to-1 return on the state's investment, creating more than $616 million in economic investments and wages, and more than 1,700 jobs, in the last two years. Completed by Portland-based ECONorthwest, the independent study also shows that the programs helped Oregonians save nearly $300 million in energy costs. Additional benefits from BETC and RETC include more than $22 million in net tax revenue for state and local governments and reductions in carbon dioxide of nearly 2.4 million tons. The study covered 2007 and the first ten months of 2008. "This thorough analysis shows that the tax credits are not only encouraging renewable energy and conservation projects, but they are also creating hundreds of new jobs each year and increasing tax revenues for state and local government," said Department of Energy Director, Michael Grainey. "Oregonians are getting an excellent return on their investment in new energy and energy savings." The combined total of BETC and RETC tax credits approved during the two-year period was $244.2 million. Oregonians received over 77,000 RETC tax credits for high efficiency appliances, heating and air conditioning systems, solar systems and hybrid cars. Around 3,800 BETC tax credits were issued for energy conservation and recycling projects, renewable energy resources and less-polluting transportation fuels. The study examined the net impacts of the tax credits to Oregon as well as spending by business owners and residents taking advantage of these tax credits. The net economic impacts reflect the benefits over and above the cost of the tax credits to state income. "With the current economic downturn, programs that invest in energy efficiency and renewable energy are going to play an even more critical role in helping to create jobs and lead us out of this recession," Grainey added. "With the help of the BETC, we've been able to complete many valuable energy projects, attract and construct solar renewable manufacturing facilities and build large wind facilities in Oregon, making us a leader in solar and wind development." The Department of Energy offers tax credits to Oregon residents and businesses that invest in energy efficiency, conservation and renewable energy projects. Residential tax credits are available for high-efficiency appliances, heating systems and qualifying services. Businesses can receive tax credits for 35 percent of eligible costs for conservation projects and 50 percent for renewable energy projects. The renewable energy tax credit was changed from 35 to 50 percent in 2007 by the Oregon Legislature to stimulate renewable energy development. The number of BETC applications more than doubled between 2006 and 2008 from 2,101 to 4,244. A previous study on the tax credit programs by ECONorthwest showed that the programs created over 1,200 new jobs, created Oregon wages of $18.6 million and contributed over $140 million to Oregon's economy in 2006. The net impacts of the BETC and RETC for 2007-8:
To view the new study, please go to www.oregon.gov/ENERGY/CONS/BUS/BETC.shtml |
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How
to Deal with Urban Heat Islands -
What's the best way to cool our communities so we don't have to suffer any more than necessary on the increasing number of hot summer days each year? Fortunately, we can go a long way toward dissipating urban heat islands with simple measures. One solution is to use lighter colors for roofs and pavement. The other is to plant lots of trees, which have a two-fold benefit. First, they provide cooling shade. Second, trees, like most plants, soak up groundwater, which then "evapotranspires" from the leaves (thus cooling the leaves and, indirectly, the surrounding air). A single properly watered tree can offset the heat equivalent to that produced by one hundred 100-watt lamps, burning eight hours per day. The planting of trees combats global warming two ways: by cutting the use of fossil fuels (for cooling) and by sequestering carbon dioxide in their wood. For these purposes, planting trees in cities and towns is far more effective than planting trees in forests. Not all trees are equally beneficial. Deciduous trees provide shade in summer, but do not block the solar radiation which could warm your house in winter.
Replacing
Your Roof Light-colored roofs have an added advantage over dark roofs: they tend to last longer, because cooler roofs are generally more durable. Regardless of reflectance, material also affects how well the roof sheds heat. For instance, curved tiles and wood usually allow air to circulate, helping to keep them cool.
Radiant
Barriers There are both "direct" savings and "indirect" as you cool individual buildings and the air conditioning load for all buildings drops with the cooling of the surrounding community. With white roofs, lighter-colored pavements, and more shade trees, eastern Oregon towns could be cooler than the dry hills that surround them, instead of hotter. Such measures have been taken for centuries in hot, dry climates. As air conditioning became widespread, cheap, and taken for granted, less attention was paid to passive cooling techniques. Together, the planting of trees and the lightening of roofs and pavement could lower the average summer afternoon temperature in eastern Oregon's downtowns by 5°F, cutting the need for air conditioning by 18 percent, and reducing the need for peak electrical generating capacity.
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